Generally yes. However, a lot of equipment has the audio ground tied to the chassis whether there's a safety ground or not. There may even be multiple connections of the audio ground to chassis, making it very difficult if not impossible to create a safe 'ground lift' facility.
That's why using transformers on the audio outputs is pretty much the only safe way of avoiding ground loops on badly designed equipment.
S.
The safest and easiest way to avoid ground loops is to not buy badly designed equipment.